Henry Ford, Ascension Michigan to merge and combine organizations

City: Michigan
Buyer: Henry Ford
Seller: Ascension Michigan
Date / Year: September 9, 2024
Sector: Hospital/Medical Center
Keywords: Henry Ford, Ascension Michigan, Hospital, Medical Center, Bob Riney, Adnan Munkarah, Denise Brooks-Williams, Steven Bender, Dennis Butts

Henry Ford, Ascension Michigan to launch combined organization in
October

The systems say this will improve outcomes and experience, and
place greater emphasis on population health and value-based care.

<https://www.healthcarefinancenews.com/news/author/90301>

Henry Ford Health and Ascension Michigan today announced plans to
close their proposed joint venture on September 30 and launch
their newly combined organization on October 1.

The joint venture will bring Ascension’s southeast Michigan and
Genesys healthcare facilities and assets together with Henry
Ford’s. The systems said this will improve outcomes, access and
experience, and place a greater emphasis on population health
<https://www.healthcarefinancenews.com/directory/population-healt
h>  and value-based care.

WHAT’S THE IMPACT?

The combined organization would employ approximately 50,000 team
members at more than 550 sites across Michigan. Bob Riney,
president and CEO of Henry Ford Health, also announced changes to
his executive team aligned with the strategic priorities of the
expanded organization.

Among the changes, Dr. Adnan Munkarah will serve as president and
clinical enterprise and chief physician executive; Denise
Brooks-Williams will serve as executive vice president and chief
operating officer, overseeing operations
<https://www.healthcarefinancenews.com/directory/operations> ,
supply chain
<https://www.healthcarefinancenews.com/directory/supply-chain> ,
support services and other areas; and Robin Damschroder will
serve as president for value-based enterprise and chief financial
officer.

Meanwhile, Steven Bender has been appointed executive vice
president and chief legal officer, effective October 21. Bender
is joining Henry Ford Health from Geisinger Health in
Pennsylvania and has more than two decades of experience serving
hospitals, integrated delivery systems, and physician networks.
Bender also spent more than a decade in Catholic healthcare in
Michigan.

The health system also recently announced the appointment of
Dennis Butts to executive vice president, chief strategy and
network development officer. Butts joined the system last month
from strategic consulting firm Guidehouse, where he served as
partner and health strategy and innovation leader.

THE LARGER TREND

Henry Ford and Ascension signed an agreement last year
<https://www.healthcarefinancenews.com/news/ascension-michigan-in
tegrate-henry-ford-health
>  to integrate Ascension’s southeast
Michigan and Genesys healthcare facilities and assets with Henry
Ford’s.  The expanded organization, to be branded Henry Ford
Health, would remain headquartered in Detroit. It would be led by
Henry Ford Health president and CEO Bob Riney and governed by a
board of directors representative of both organizations.   The
combined organization would employ approximately 50,000 staff at
more than 550 sites of care across the region.

The M&A market for healthcare companies continues to build on STRATEGIC opportunities. The strategic corporate buyers and private equity investors remain committed to acquiring strong businesses that are well prepared for a transaction. Across the continuum of care, these buyers and investors are looking for well established, profitable businesses and offering prime valuations and options for management.

Do you know the current market value of your business? We do! We are here to help you plan, prepare, explore and succeed in executing your strategic options.

Contact Paragon Ventures for more information.  

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